No sale: Ringier keeps Népszabadság
As reported by the Tages-Anzeiger, Ringier is not divesting itself of Hungary's last independent daily newspaper, Népszabadság, after all. The reasons are unclear.
In September 2012, the Tages-Anzeiger reported that Ringier wanted to sell Népszabadság, the only quality newspaper in the Hungarian portfolio (Werbewoche.ch reported). This announcement was explosive because it is the only newspaper that is not close to the politics of the ruling party Fidesz, but is considered the mouthpiece of the socialist opposition. As the Tages-Anzeiger writes in Tuesday's edition, Ringier is not selling, but rather increasing the newspaper's capital by around three million francs. Ringier holds about 70 percent of the crisis-ridden title, while the rest belongs to the "Foundation for a Free Press." While pro-government newspapers in Hungary are "rewarded" by advertisements from state institutions, the Ringier paper's advertising revenues have fallen dramatically.
Since Ringier does not comment on business relationships as a matter of principle, the background to the planned but not executed sale is unknown. The reasons for the failed sale can only be conjectured. On the one hand, the Tages-Anzeiger sees the possibility that the "Foundation for a Free Press" was unable to raise the financial means to take over the remaining shares. On the other hand, a feared loss of image is also listed as a possible reason: When Ringier sold another large liberal daily newspaper a few years ago, it ultimately ended up in nationalist hands and today serves as a platform for racist and anti-Semitic commentary.
